US10Y yield breaking out of a nasty downtrend to trying to test March's jitters of 1.75/1.702 after bottoming out in August at 1.122. If the 10Y holds above those 2 levels we look to retest pre-pandemic ground around 1.985 and higher.
In the past week you saw the 10-year run up a little in anticipation of inflation data for the Consumer Pricing Index (CPI) released today. Inflation month over month for july was 0.5% meeting expectations exactly while core CPI was 0.3% vs 0.4% expected (0.1% miss). The run up was nice from 1.1272 right up to 1.3755 this morning right above resistance (1.3633)....
$GLD gold needs to hold 164.18 support, if we break there's a gap to fill down to 158.24. Trading at the bottom of that wedge so there is strong support here. Remember inflation data, Consumer Pricing Index on Wednesday 8/11/21
10-Year US Treasury Yield found support on 7/20 and 8/04 at 1.1225. Touched this support once on each date which is actually resistance Jan/Feb 2021. Broke 1.2018, now breaking out of downtrend and 1.2804 resistance to see if it can hold above that level. Next big level to watch above is 1.4369
